UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 2, 2007
ALBANY INTERNATIONAL CORP.
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(Exact name of registrant as specified in its charter)
Delaware 0-16214 14-0462060
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1373 Broadway, Albany, New York 12204
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (518) 445-2200
None
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13a-4(c))
Item 2.05. Costs Associated with Exit or Disposal Activities.
Albany International Corp. (the "Company") issued a news release on August 2,
2007 announcing plans to further reduce manufacturing capacity in North America.
As announced, the Company intends to discontinue operations at its press fabric
manufacturing facility in East Greenbush, New York, and to cease the manufacture
of dryer fabrics in Menands, New York. The plans are in response to the
continuing consolidation within the paper industry in the U.S. and Canada and
the need to balance the Company's PMC manufacturing capacity in North America
with anticipated paper mill demand.
Discussions with labor representatives at the affected operations are expected
to begin shortly. Until they are concluded, the Company is unable reasonably to
estimate the costs expected to be incurred in connection with these plans. The
Company will disclose the amount, type and timing of these costs promptly after
they are determined.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 News Release dated August 2, 2007.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ALBANY INTERNATIONAL CORP.
By: /s/ Michael C. Nahl
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Name: Michael C. Nahl
Title: Executive Vice President and
Chief Financial Officer
Date: August 2, 2007
EXHIBIT INDEX
Exhibit No. Description
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99.1 News Release dated August 2, 2007